Hello-
I'm new to knitting and am trying my hand at a pattern that has several techniques I have not done before. The pattern is a Stow-Away Shopping Bag by Oat Couture. So far I have been able to figure things out but now I'm stumped.

Here's the problem - I've never done "yo" - yarn over in a pattern - only read about it. I'm at a point in the pattern where I have 92 stitches on the needle to work with. The pattern reads:
Row 1: [K3, (yo, k2tog) 10 times] 4 times

My understanding is that I'm supposed to knit 3 stitches then do the yarn-over then knit 2 together pattern 10 times before I start over again with the Knit 3.....and do the whole thing 4 times. Right?

Here's the other problem - if I try and calculate how many stitches this entire portion of the pattern will require, it far exceeds the number of stitches (92) I have to work with. UNLESS - I don't really understand what "yo" really means.
In the one reference book I have seen a "yo" uses 2 stitches. This means that the "yo" and "k2tog" portion of the pattern (repeated 10 times) would use up 40 stitches alone. Add the 3 from the K3 and you have 43 stitches. Do all this 4 times and.......well....you see what I'm getting at.

If I look at it backwards and assume that I'm going to repeat 4 times some pattern that requires 23 stitches - it works....since 23 x4 = 92.

What I'm thinking is that I don't truly understand what "yo" really means.

As I re-read this - I'm thinking that it doesn't make sense - but perhaps it will to someone.

A 'yo' doesn't use any of your existing stitches. It ADDS a stitch, and then the K2tog decreases a stitch so those two (the yo plus the K2tog) kind of cancel each other out. You don't end up with any more stitches than you started with, it just creates an eyelet design.

So you have [K3, (yo,K2tog)10times]4times as your instruction.

You are right that you will do your K3, then the yo, K2tog sequence ten times, then repeat that WHOLE thing 3 times more for a total of 4 repeats.

In order to do a yo, you just bring your yarn to the front of your work and then return it to the back by bringing it OVER the needle. This creates a new stitch and like I said earlier, does not use any of your existing stitches.

So you K3 ~ uses 3 stitches
yo, K2tog ten times ~ uses 20 stitches

at this point you have used a total of 23 stitches.

You will repeat that sequence 4 times total, and that will bring you to your 92 stitches.